According to Gate.io News bot, Bloomberg reported that Tidal Financial Group submitted a new ETF product application to the SEC ( SEC ). The product is planned to be issued under the Battleshares brand, using Bitcoin and gold as counterpart assets, designed as a long-short strategy portfolio. The structure of this ETF product includes trading tools such as short selling, swaps, and Options.

Golden Finance reports that the Battleshares brand under Tidal Financial Group has submitted an application to the SEC to launch two ETFs that hedge Bitcoin against gold. This product will allow investors to directly bet on the relative performance of the two asset classes through tools such as shorting securities, swap contracts, and options. Dhaval Joshi, Chief Strategist at Counterpoint, believes that Bitcoin will gradually erode gold's market share, and that the long-term outlook for a BTC/shorting gold combination is more promising.

Payment company Block announced a refocus on BTCMiner devices and self-hosted encryptionWallet development, partially driven by abandoning its 'Web5' Decentralization Internet project and reducing investments in Tidal music streaming. This move coincides with news of Trump's promise to create a more favorable environment for the Crypto Assets industry. Block's third-quarter revenue fell short of expectations, leading to a 10% drop in stock price.

Twitter co-founder Jack Dorsey's payment company, Block (SQ), plans to refocus on building devices for BTC Miners and self-hosted encryption Wallets, abandoning the creation of a new type of Decentralization Internet called 'Web5' and reducing investment in the Tidal music streaming app. The decision was announced in the same week that Trump won the US presidential election, after he promised to provide a more crypto-friendly environment for the US. Block's financial report shows that revenue in the third quarter was $5.98 billion, lower than the average Wall Street analyst's expectation of $6.24 billion.